P3.5 (LO 2, 3, 4), AP Financial Statement On November 1, 2022, the account balances of Hamm Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment Debit $ 2,400 4,250 1,800 12,000 $20,450 No. 154 Accumulated Depreciation-Equipment Accounts Payable 201 209 Unearned Service Revenue 212 301 Salaries and Wages Payable Owner's Capital During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $700 is for October salaries. 10 Received $3,620 cash from customers on account. 12 Received $3,100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 20 22 25 27 Purchased supplies on account $700. Paid creditors on account $2,700. Paid November rent $400. Paid salaries $1,700. Performed services on account and billed customers $2,200 for these services. Credit $ 2,000 2,600 1,200 700 13,950 $20,450 Journalize transactions and follow through accounting cycle to preparation of financial statements. GLS
P3.5 (LO 2, 3, 4), AP Financial Statement On November 1, 2022, the account balances of Hamm Equipment Repair were as follows. No. 101 Cash 112 Accounts Receivable 126 Supplies 153 Equipment Debit $ 2,400 4,250 1,800 12,000 $20,450 No. 154 Accumulated Depreciation-Equipment Accounts Payable 201 209 Unearned Service Revenue 212 301 Salaries and Wages Payable Owner's Capital During November, the following summary transactions were completed. Nov. 8 Paid $1,700 for salaries due employees, of which $700 is for October salaries. 10 Received $3,620 cash from customers on account. 12 Received $3,100 cash for services performed in November. 15 Purchased equipment on account $2,000. 17 20 22 25 27 Purchased supplies on account $700. Paid creditors on account $2,700. Paid November rent $400. Paid salaries $1,700. Performed services on account and billed customers $2,200 for these services. Credit $ 2,000 2,600 1,200 700 13,950 $20,450 Journalize transactions and follow through accounting cycle to preparation of financial statements. GLS
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 3.23E: Adjustment for depreciation The estimated amount of depredation on equipment for the current year is...
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